-LRB- CNN -RRB- -- Zambia 's incumbent president bowed out with `` grace and honor '' Friday after election results showed his main challenger had won , his party said in a statement .

`` The people of Zambia have spoken and we must listen , '' outgoing President Rupiah Banda said on the website of his Movement for Multiparty Democracy . `` The time now is for maturity , for composure and for compassion . ''

Zambians voted Tuesday in the presidential election .

The incoming president , Michael Sata , will be sworn in Friday , party officials said .

Sata is the leader of the opposition Patriotic Front and a major critic of China 's investment in the nation .

Ten candidates took part in the presidential race .

Zambia has remained relatively peaceful amid unrest in neighboring Zimbabwe and the Democratic Republic of the Congo .

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10 candidates take part in the presidential race

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Winner Michael Sata is a major critic of Chinese investment in the nation